The rise of digital wallets is making way for more convenient and instant payment solutions. As more shoppers prefer to make online transactions, small and medium marketers and e-commerce retailers are becoming more open to adopting cryptocurrency as a payment method. All the while, to enhance the customer journey, advertisers can also delve with blockchain to further promote a merchant’s online business.
According to Forever 21 Executive Vice President Linda Chang,
“the retail industry is obviously changing — there has been a softening of mall traffic and sales are shifting more to online.”
ABBC is aware of this as well. This leads Generation 2 of ABBC to be more scalable and better than before. Through its revolutionized technology, ABBC can now handle 5,000 transactions per second, allowing its users to send and receive funds instantly.
As the ABBC blockchain expands, it aims to target small and medium scale marketplaces. Besides that, advertising platforms can also utilize the blockchain for a more innovative way of promoting content.
Let’s discuss how these target audiences can benefit from our upgraded network.
Delegated Proof of Stake (DPoS) is a consensus algorithm maintaining incontestable contracts across the network, responsible for validating transactions and acting as a form of digital democracy.
In a DPoS-powered ecosystem like the ABBC blockchain, real-time voting combined with a serial reputation achieve consensus. This allows transactions within the network to be validated faster and community members are more inclusive since, for example, both ABBC Coin holders and Block Producers (BPs) alike can have a degree of influence on what happens on the network.
Not only is DPoS a more democratic system, but it is also more efficient and effective. The selection of block producers allows for the transactions to be validated in a matter of seconds. In this case, transactions in the marketplace, in-store promotions and payments can be done quickly.
Blockchain technology is a virtual public ledger that registers everything in a secure and transparent manner. Unlike banks that process transactions with traditional currencies, blockchain offers a more efficient solution using cryptocurrencies through a decentralized environment.
With blockchain’s ability to achieve remote and autonomous consensus between users, businesses have quickly figured out that such reliant data infrastructure is useful for things far beyond cryptocurrency. It can help bring products and services to market quickly and inexpensively. Blockchain technology also offloads the traditionally high cost of security, Know-Your-Customer (KYC) protocols, data and storage, and many more. It does not only reduce cost but also allows businesses of all sizes to compete on a more level playing field.
In the ABBC blockchain, consumers and retailers can both benefit from low costs, decentralized cross-border trade, B2B transaction and referral ecosystems, accelerated network payments, and chargeback fraud protection. With this, online shoppers can be more confident in using their ABBC Coins in buying, while merchants explore more market opportunities by accommodating crypto holders.
As for advertising platforms, marketplace owners can have an easier way to promote their businesses to their customers. Not limited to this, solutions providers like IT, legal, accounting, logistics, and other services, can also use the ABBC blockchain to promote and get leads from the participants present within the ecosystem.
Onto the Future of E-commerce
In an interview, ABBC Foundation CEO Jason Daniel Paul Philip said that “as customers continue to increase and delve into e-shopping more than before, ABBC can provide benefits that could conveniently improve the selling and buying experience for everyone.” Hence the Generation 2.0 Wallet and Buyaladdin.
ABBC, with its revolutionized technology, delivers its new and improved Generation 2.0 wallet. The wallet is a non-custodial wallet that is easy to manage and a safe place where users can store their ABBC Coin, other leading cryptos in the market, and more than 1,600 ERC-20 tokens. This wallet can be conveniently used by shoppers to easily conduct their online shopping.
Alongside this, ABBC’s Buyaladdin will integrate over 50 of the biggest online retailers into one revolutionary platform. Expected to go public in November 2019, Buyaladdin will be a shopping haven for both crypto and non-crypto users.
With consistent progress, ABBC continues to transform the e-commerce sector and will break its limits on providing outstanding service to both consumers and sellers that will utilize ABBC platforms.